Zacks Investment Research upgraded shares of Tabula Rasa HealthCare (NASDAQ:TRHC) from a sell rating to a buy rating in a report issued on Thursday morning. The brokerage currently has $69.00 target price on the stock.
According to Zacks, “Tabula Rasa HealthCare, Inc. is a provider of patient-specific, data-driven technology and solutions which enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. The company’s cloud-based software applications including EireneRx and MedWise Advisor which provide solutions to payers, providers and other healthcare organizations. Tabula Rasa HealthCare, Inc. is based in NJ, United States. “
TRHC has been the subject of a number of other research reports. BidaskClub cut shares of Tabula Rasa HealthCare from a strong-buy rating to a buy rating in a research report on Saturday, September 15th. Cantor Fitzgerald reissued a buy rating and set a $99.00 target price on shares of Tabula Rasa HealthCare in a research report on Tuesday, November 6th. Chardan Capital increased their target price on shares of Tabula Rasa HealthCare from $77.00 to $91.00 and gave the company a buy rating in a research report on Wednesday, November 7th. Benchmark initiated coverage on shares of Tabula Rasa HealthCare in a research report on Tuesday, January 8th. They set a buy rating and a $85.00 target price for the company. Finally, Robert W. Baird increased their target price on shares of Tabula Rasa HealthCare from $70.00 to $90.00 and gave the company an outperform rating in a research report on Wednesday, September 19th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $82.27.
Shares of TRHC opened at $66.00 on Thursday. Tabula Rasa HealthCare has a fifty-two week low of $28.55 and a fifty-two week high of $91.16. The company has a market capitalization of $1.35 billion, a PE ratio of -1,650.00, a price-to-earnings-growth ratio of 4.20 and a beta of 2.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.49 and a quick ratio of 0.46.
Tabula Rasa HealthCare (NASDAQ:TRHC) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.07. Tabula Rasa HealthCare had a negative net margin of 13.49% and a positive return on equity of 7.63%. The firm had revenue of $54.42 million during the quarter, compared to analysts’ expectations of $52.87 million. During the same quarter in the prior year, the company earned $0.08 EPS. The company’s revenue was up 66.3% compared to the same quarter last year. As a group, equities analysts expect that Tabula Rasa HealthCare will post 0.42 EPS for the current year.
In other Tabula Rasa HealthCare news, CEO Calvin H. Knowlton sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $63.06, for a total transaction of $504,480.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Samira Beckwith sold 1,733 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $75.76, for a total transaction of $131,292.08. The disclosure for this sale can be found here. Insiders have sold 63,790 shares of company stock valued at $4,409,251 in the last three months. 14.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Mount Yale Investment Advisors LLC acquired a new position in Tabula Rasa HealthCare during the 2nd quarter valued at approximately $111,000. Envestnet Asset Management Inc. acquired a new position in Tabula Rasa HealthCare during the 2nd quarter valued at approximately $130,000. Riverhead Capital Management LLC increased its stake in Tabula Rasa HealthCare by 100.0% during the 3rd quarter. Riverhead Capital Management LLC now owns 2,600 shares of the company’s stock valued at $211,000 after purchasing an additional 1,300 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Tabula Rasa HealthCare during the 3rd quarter valued at approximately $219,000. Finally, Rehmann Capital Advisory Group increased its stake in Tabula Rasa HealthCare by 13,108.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 3,038 shares of the company’s stock valued at $247,000 after purchasing an additional 3,015 shares in the last quarter. Institutional investors and hedge funds own 74.87% of the company’s stock.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare, Inc operates as a healthcare technology company in the United States. It offers medication risk management, pharmacy cost management, and medicare risk adjustment services. The company offers its technology-enabled products and services to prescribers, pharmacists, and healthcare organizations for medication risk management and risk adjustment.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tabula Rasa HealthCare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tabula Rasa HealthCare and related companies with MarketBeat.com's FREE daily email newsletter.